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365
Oct 12, 2012
10/12
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that internal condition, constant change in the economic environment, is the fundamental reason that central planning cannot work, even apart from the adverse implications of central planning for individual freedom. we use market institutions to allocate resources because doing so maximizes aggregate wealth. we don't use market institutions to allocate and reallocate resources in order to preserve jobs in any given industry. therefore, the structural unemployment that results from reductions in defense outlays is irrelevant and politically, even if it is highly relevant politically. to the extent that reductions in defense outlays reflect an improvement in international security environments, that improvement in yields an increase in national wealth in exactly the same sense that a reduction in crime does the same. while increased employment in a given economic sector or increased unemployment, rather, in a given economic sector is painful for those subjected to economic losses, it is not a loss for the economy as a whole, because the reallocation of resources in response to changes
that internal condition, constant change in the economic environment, is the fundamental reason that central planning cannot work, even apart from the adverse implications of central planning for individual freedom. we use market institutions to allocate resources because doing so maximizes aggregate wealth. we don't use market institutions to allocate and reallocate resources in order to preserve jobs in any given industry. therefore, the structural unemployment that results from reductions in...
121
121
Oct 11, 2012
10/12
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we are facing problems with the environment. and in what we will be doing over the next several weeks, and i'm absolutely delighted the league is sponsoring these debates and we are able to speak to the american public and address the issues in a way such as this and i think you're going to see a change. >> vice-president bush, you have one minute for a bottle. >> i was glad to get that vote of confidence from mrs. ferraro on my economic judgment. let me make a statement on the economy. the other day, she was in eggplant and she said to the workers why are you all voting for the reagan-bush ticket? and there was a long, deathly silence. and she says we delivered. that's the problem. not blaming her, except for the liberal voting record in the house, they delivered. they delivered 21.5% interest rates. they delivered what they called malaise. they delivered interest rates that are off the charts. they delivered to come pace, checks that were shrinking and we have delivered optimism. people are going back to work. 6 million of the
we are facing problems with the environment. and in what we will be doing over the next several weeks, and i'm absolutely delighted the league is sponsoring these debates and we are able to speak to the american public and address the issues in a way such as this and i think you're going to see a change. >> vice-president bush, you have one minute for a bottle. >> i was glad to get that vote of confidence from mrs. ferraro on my economic judgment. let me make a statement on the...
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Oct 11, 2012
10/12
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it's a natural response to the rate environment. moreover, the same pattern shows up among large financial firms. they, too, have been significantly lengthening their average debt maturity. now, it should be noted that the current cheapness of long-term debt contrasts with the precrisis configuration where there was frequently a pronounced vantage favoring issuers not at the long end of the yield curve but very short end. in other words, the fact that the yield curve often tended to be steeply upward sloping at the very front end tended to give financial firms a strong incentive to issue overnight paper. the bottom line of this is i suspect that lsaps have by changing the structure of term premia in the market helped to enshaorch an extension of debt maturity by both financial and nonfinancial firms and all else being equal i think -- this development a good thing from a financial stability perspective. let me conclude. just to restate i believe that our recently announced policy of m.b.s. purchases coupled with the change in our fo
it's a natural response to the rate environment. moreover, the same pattern shows up among large financial firms. they, too, have been significantly lengthening their average debt maturity. now, it should be noted that the current cheapness of long-term debt contrasts with the precrisis configuration where there was frequently a pronounced vantage favoring issuers not at the long end of the yield curve but very short end. in other words, the fact that the yield curve often tended to be steeply...
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Oct 10, 2012
10/12
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working to determine if our security systems and procedures where appropriate in light of the threat environment and whether they were properly implemented. the secretary has asked us to work as quickly and transparency as pot -- transparently as possible. this is a complicated review that will take time. we will be better able to assess the information we have. until then, it is an incomplete picture and, as a result, our answers today will be incomplete. we have always made clear we were given the best information we had at the time. for example, if any administration official, including any career official, were on television sunday, september 16, they would have said what ambassador rice said. the information she had at that point from the intelligence committee was the same that i had at that point. clearly, we know more today than we did after the attack. but we will continue consulting with you throughout this process. >> a portion of today's house oversight committee on diplomatic security in libya. you can see the entire hearing later tonight at 9:00 p.m. eastern here on c-span. in 90 m
working to determine if our security systems and procedures where appropriate in light of the threat environment and whether they were properly implemented. the secretary has asked us to work as quickly and transparency as pot -- transparently as possible. this is a complicated review that will take time. we will be better able to assess the information we have. until then, it is an incomplete picture and, as a result, our answers today will be incomplete. we have always made clear we were...
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Oct 10, 2012
10/12
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in this uncertain and volatile environment. the mission was to support and answer to the chief mission in libya. i worked directly for the regional security officer. we provided security support, medical support, communications support, for every facet of security that covered the embassy. as the sst commander, at a seat on the country team. i was closely involved in the support for the rso's secure the objective. we lived more together to locations in tripoli and embassy property in benghazi. thw sst supported security but it's for diplomatic officers in and around tripoli and other parts of libya as the work required. on two occasions, i send members to benghazi to support and bolster security at that location. the sst was closely integrated with regular diplomatic security agents working directly for the rso as well as other diplomats teams. i traveled to benghazi on two occasions with the rso, once to evaluate a security situation there and once to conduct some work for the defense office. i was there a second time in june
in this uncertain and volatile environment. the mission was to support and answer to the chief mission in libya. i worked directly for the regional security officer. we provided security support, medical support, communications support, for every facet of security that covered the embassy. as the sst commander, at a seat on the country team. i was closely involved in the support for the rso's secure the objective. we lived more together to locations in tripoli and embassy property in benghazi....
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Oct 9, 2012
10/12
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i believe circumstances around america and the world create an environment where whoever is in authority and power have to act or pay the price. >> i am optimistic. i do not think the american people will settle for anything less than success, and they are going to drive this debate. as business leaders, our job is to insure the business community is involved in the discussion. if they are, politicians will do the right thing. >> to you think american politicians will do what is needed? >> you will not find pessimist'' up here. we would not do what we do for a living. the problems we face can be solved. americans can be counted on to do the right thing after they have exhausted every other possibility. we would get it done. >> you can never go wrong ending on churchill. thank you for joining me. [applause] >> thank you all for joining us for conversations and power today, and a big thank-you to a keen observer on washington politics and the economy, as well who as a great moderator. and thank you to our panelists. we really appreciate you all being here. i would also like to again thank
i believe circumstances around america and the world create an environment where whoever is in authority and power have to act or pay the price. >> i am optimistic. i do not think the american people will settle for anything less than success, and they are going to drive this debate. as business leaders, our job is to insure the business community is involved in the discussion. if they are, politicians will do the right thing. >> to you think american politicians will do what is...
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Oct 9, 2012
10/12
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we have the best environment for that talent. >> energy and then campaign finance. >> you are looking at california right now. their massive increases in the costs. when consumers are paying for gasoline, they're not able to purchase their basic commodities every day. what is happening? governor brown is proposing a relaxation of regulation that impact energy industry. that is clearly a concession that regulation drives the costs of energy. we need to have the same focus of discussion in washington. what is happening in california can happen -- >> i heard about that happening in hawaii. >> if you have a stool with two legs, it will fall over. look at what the canadians did with their cash cow. we can do spending, taxes, and energy with our cash cow. >> tom, you think this will happen with the makeup of the government we have today? >> i think when people figure out there is a big chunk of change and there is a debate of people trying to protect entitlements and those trying to kill energy, who are you going to bet on? -- it will save as much as 50 cents per gallon. they pay as much as
we have the best environment for that talent. >> energy and then campaign finance. >> you are looking at california right now. their massive increases in the costs. when consumers are paying for gasoline, they're not able to purchase their basic commodities every day. what is happening? governor brown is proposing a relaxation of regulation that impact energy industry. that is clearly a concession that regulation drives the costs of energy. we need to have the same focus of...
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Oct 9, 2012
10/12
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basically said that you will go to washington, work across party lines, and fix that toxic political environment. but at the same time, you spent years as the democratic party chair, in some ways, being the partisan chief of the party. what would you say to virginians that would convince them that when you go to washington, you'd be not partisan and not simply a loyal lieutenant in harry reid's army. >> i will tell you two things. i served with two presidents. i serve with president bush and president obama. we did not agree on everything. i worked closely on the bush administration on a number of issues that put virginia first. railroads are being built right now largely because of president bush and his secretary of transportation and our ability to work together. we worked with the bush administration in the aftermath of the shootings at virginia tech. i will always be a partner of the nine states, whoever the president is. i also have a track record of working across lines. first, here in richmond. second, as a republican -- as a governor with republican houses. we were the best-managed stat
basically said that you will go to washington, work across party lines, and fix that toxic political environment. but at the same time, you spent years as the democratic party chair, in some ways, being the partisan chief of the party. what would you say to virginians that would convince them that when you go to washington, you'd be not partisan and not simply a loyal lieutenant in harry reid's army. >> i will tell you two things. i served with two presidents. i serve with president bush...
88
88
Oct 8, 2012
10/12
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he would have to over collateralize a loan by 150% under the current regulatory environment. i want him to be able to grow his business. it's a classic example of regulation killing jobs. we need to make sure we have the proper amount of legislation but not overregulation. my commercials talk about reducing spending, and powering our work force for training for jobs available and developing a comprehensive energy policy to put our people back to work, energy independence to protect our environment. >> 30 seconds to rebut. >> you have been running some of the most deceitful attack at the state has ever seen. don't try to pretend that has not been what's happening in that race. when your campaign was asked why you don't start talking about the issues, your campaign manager said it would be a senseless exercise. that's right. for linda mcmahon talking at the issues of be a senseless exercise. the only ads she can run are against me and my family. by pathe is different. -- my path is different. that's what in the final four weeks my campaign will be about. >> it's time now with o
he would have to over collateralize a loan by 150% under the current regulatory environment. i want him to be able to grow his business. it's a classic example of regulation killing jobs. we need to make sure we have the proper amount of legislation but not overregulation. my commercials talk about reducing spending, and powering our work force for training for jobs available and developing a comprehensive energy policy to put our people back to work, energy independence to protect our...